In 2024, the global patient monitoring devices market was valued at USD 50.36 billion, and it is projected to grow to USD 118.21 billion by 2033, representing a compound annual growth rate (CAGR) of 10.21% over the period from 2025 to 2033. The market growth is driven by rising demand for devices that can measure, record, and display biometric data such as blood pressure, body temperature, and blood oxygen saturation.

Key Market Trends & Insights

• In 2024, North America held a dominant position in the market, with a 35.02% share.
• The U.S. has experienced substantial growth due to increased uptake of integrated monitoring solutions.
• Among product types, the cardiac monitoring devices segment led the market in 2024, capturing a 14.98% share.
• From the perspective of end users, hospitals accounted for the largest revenue share in 2024.
• Rapid growth is expected in Asia Pacific, identified as the fastest-growing region over the forecast period.

Key drivers include the ageing global population; greater prevalence of chronic diseases such as cardiovascular disease, diabetes, and respiratory illnesses; and greater need for continuous monitoring to enable early intervention and remote care.

Telehealth and remote patient monitoring programs are being increasingly adopted, spurred by pressure on healthcare costs and shortages in staffing. For instance, 93% of physicians see digital tools as beneficial, and remote monitoring usage has more than doubled (to 30%) since 2016.

Innovation in miniaturization, battery technology, and wireless connectivity is bolstering device design, performance, and usability. Examples include continuous glucose monitoring systems with extended wear times, and insertable cardiac monitors offering real-time wireless transmission of arrhythmia data.

Challenges persist in the form of data security concerns and reimbursement obstacles for certain remote monitoring solutions. Nonetheless, with clinician acceptance growing and value-based care models emphasizing preventive health, these obstacles are being addressed.

Market Size & Forecast

• 2024 market size: USD 50.36 billion
• Forecast for 2033: USD 118.21 billion
• CAGR (2025 – 2033): 10.21%
• Largest market in 2024: North America
• Fastest growing region: Asia Pacific

The rapid increase is attributed both to demographic shifts (especially ageing populations) and to rising incidence of chronic disease. There is also growing demand for remote monitoring technologies and devices, which enable patient monitoring beyond hospital settings. Technology advances—especially in connectivity, sensors, and AI-enabled analytics—are expected to further push the market forward.

Order a free sample PDF of the Patient Monitoring Devices Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insight

Major companies in this market are employing strategies such as expanding into new regions, entering partnerships, and enhancing product portfolios in order to strengthen their market positions. Innovation is a critical differentiator, especially as regulatory standards for safety, accuracy, and data security become more rigorous. Market concentration is moderate: many players, but leading firms command significant influence due to product quality, innovation, and global presence.

Key Companies

Some of the leading companies in the patient monitoring devices market include:

• Bosch
• Biotronik
• Welch Allyn
• Koninklijke Philips N.V.
• GE Healthcare
• Medtronic
• Masimo Corporation
• Smiths Medical
• Omron Corporation
• Mindray Medical India Pvt. Ltd.
• Hoffmann-La Roche Ltd
• Drägerwerk AG & Co. KGaA
• Nihon Kohden Corporation
• Natus Medical

Conclusion

In summary, the patient monitoring devices market is poised for strong growth over the next decade, with the valuation more than doubling from 2024 to 2033. Major factors include rising chronic disease burden, ageing demographics, and the growth of remote and home-based care models. While North America remains the largest market today, Asia Pacific is expected to outpace others in growth rate. Innovation in device capabilities, wireless connectivity, and AI analytics, alongside evolving regulatory frameworks and reimbursement models, will be key determinants of success for companies in this field.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.